Are you considering restructuring your business?

Are you considering restructuring your business?

If you are a business owner or director considering restructure, you may well be going through an anxious time. Considering a restructuring initiative very often comes in response to a difficult period in the life of the business – and it may be a measure that you have been keen to avoid. 

At top Bahamas law firm Parris Whittaker, our team of expert corporate lawyers have many years’ experience in assisting businesses with re-engineering for a range of reasons, and we are ready to help and advise, and do what is best for your firm.

The news that the Bahamas is enjoying an upturn after the global economic crisis has been welcomed by businesses across the region and further afield. The first green shoots of recovery are being seen in private endeavours and in public initiatives, and the tourism sector is perhaps the most resilient.

But despite this good news many businesses will still be reeling from the effects of the recession, and will need to examine their company structure to establish how best to respond to the economic climate in a way which will protect their investors, and help the business recover and grow.

Often, the mere thought of company restructuring is enough to send CEOs into a spiral of panic. The term has come to be synonymous with company failure, and an inevitable winding-up of the business. But in the hands of an expert team of lawyers such as those at Parris Whittaker, restructuring can be a welcome opportunity to turn a business around, and make it thrive.

There are a number of circumstances under which a business would do well to consider a restructuring initiative. They might include:

  • Changes in market conditions that are likely to have a negative impact on the business model;
  • A sudden or unusual drop in market share, customer loyalty, revenue or margin – or slow growth in these areas;
  • A failure to recruit or retain top-level members of staff; or
  • Obsolete products or services, which are no longer of value in the sector.

But crucially, proposing a restructuring initiative need not be in response to a set of negative conditions – often, it is the best means to exploit a new business opportunity. Making the most of windows of opportunity demands that a company acts swiftly and decisively before the chance passes or is grasped by a more dynamic business competitor – and wise restructuring can often be the means to make the most of these opportunities.

If you are considering company restructuring - whether to help guard against business failure or in order to exploit fresh opportunities - you need legal advice from a leading corporate firm to act on your behalf, guiding you through each stage of the process. The award-winning corporate lawyers at Parris Whittaker are ready to advise, and work with you to guide your business to where you want it to be.